Kardec Trader breaks down a single trade that made just over $1 million in May. He entered SPX around 5150 after it held support near 5000, rode a 200-point rally over two weeks, and credits Nvidia's 25% earnings beat plus cooling inflation for the move.
5,000
Around 5150–5160
About 200 points within two weeks
A little over $1,000,000 in the month of May
About a 25% jump
Just looking at this area here, we had like a multi week consolidation. SPX back tested a key support level of 5,000. Do you have to take the trade at the level to make money? Not necessarily. You can wait for more confirmation that the bottom is actually forming. It took about two weeks before we actually saw that bottom. I jumped in around I would say 51.50 5160 after I entered, we rode the market higher for about 200 points within two weeks. I ended up making about a little over a million bucks. In the month of May. During the month of May we got Nvidia earnings. We had tech earnings and Nvidia, I think it jump 25% after earnings. That was really bullish for the market because that's a sector leading stock. On top of that we had data that the labor market was looking better and inflation was starting to cool. Having the earnings looking at the chip sector which is one of the big sectors in the market. And then you had economic data coupled together. SPX back testing a very key support level and holding. Those three combined allowed to trade the upside. And we were able to capitalize on that for eventually like a two, three week move to the upside before we topped out.
